BC/Yukon Region - Labour Force Survey - November 2007

• Highlights
• Older Workers
• Summary of Labour Force Survey Results
       - Summary Data - BC
       - Employment by Industry - BC
       - Employment by Sector - BC
       - Unemployment Rates by Age & Sex - BC
       - Unemployment Rates - Provinces
       - Unemployment Rates - BC Economic Regions

Highlights

• BC's economy created 25,800 new jobs last month, more than sufficient to absorb the additional 22,400 entrants to the labour force. The result: BC's participation rate is now 66.7% - the highest rate since March 1995; the "employment rate" hit an all-time high of 63.9% (639 jobs per 1,000 population); and the unemployment fell to 4.2%.
  
  
• Over the past year, there was a drop in part-time jobs of 7,800 and an increase in full-time jobs of 95,800, netting to an overall increase in employment of 88,000 or 4.0% over the year.
  
  
• Almost one-half of the new jobs over the past month were in Construction, bringing employment to a record 207,000 in the industry. Employment in the exchange-rate sensitive Trade and Manufacturing sectors was down slightly over the past month, but well above last year's job levels.

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Older Workers

BC's workforce is aging, so governments and employers are paying increased attention to older workers. Let's have a look at a few labour market characteristics of this age group.

BC's improved labour market situation has had a positive effect on all age groups, including older workers. As Graph 1 shows, the unemployment rate for those aged 55 and over is below the average for all workers, and has been steadily declining since 2004.

On the other hand, when older workers lose their jobs, they remain unemployed for a longer period than other workers. Although the situation has improved since 2004, the average unemployed person in the 55+ age groups has been unemployed for 20 weeks.

Finally, older workers have lower participation in the labour force. But as Graph 3 shows, participation rates are significantly higher now than they were ten years ago for workers aged 55 and over.